Thursday, May 5, 2011

And boom goes the dynamite

Just got off the phone with my dealer. They were in 'all hands on deck" action today talking orders like "silver was free."

Buy phyzz to sell phyzz ratio today over there was 101:1 If you are too slow to figure that out less than 1% of the orders were to sell back to them.

Yup, one poor fellow traded in his phyzz today.

If this continues, you might as well nominate the Bears Part 6 video to be part of the ministry of education's mandatory curriculum study in real street economics. Of course its too early to say this, but so far so good.

Tomorrow's open will determine if the Monday hike is priced in, and if we are ready to obliterate the idiot shorts that were put on at $35/$36.

Grab a seat. Should be a doozy. Good luck and always wear protection.

76 comments:

  1. Physical and paper price seem to have totally decoupled if everybody is buying at dealers and the price is going down the toilet! people must think $35 is a good price, and we all agree it is, but thats what we thought about housing in 2009 and its still going down the toilet!

    So far Asian markets are putting up a ledge!

    We hit $36-37 and I am all in again in PSLV. I need the liquidity in these treacherous times!

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  2. Burn them all down!
    http://www.youtube.com/watch?v=Sy9n_WnVlds

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  3. I called my local coin shop several times a week, and he usually sells me Silver Eagles at a discount.. Usually 1.50 over spot.. These are ones that people bring to them, and he pays them spot.. I keep him up to date on the news, and he treats me right.. At this point he isn't selling Any Bullion ! After telling him what is going on, he decided the information was worth something and sold to me..lol I liked seeing 35.50 Silver Eagles Again ! Happy Day ! Thanks Jerks !

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  4. "and we all agree it is, but thats what we thought about housing in 2009 and its still going down the toilet!"

    There is ZERO correlation between housing and silver. None. Nada. Zip. Zilch.

    People are NOT foreclosing their finite supply of a PRECIOUS metal like they would on worthless 5 bedroom houses they bought at 3 million dollar ninja loans sold by leather face mozillo.

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  5. SIN11 @ $33.71 before a turn around

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  6. Also, do nto forget the US dollar went to the moon ( well, not really, but for the dollar it felt like the moon today ). Also Oil got raped today 10%. So, it was everything. If the dollar tanks, and we hold for a day on silver, we will be off up again. The concern would be, if this is only half way down to the gulag. Then it means JPM are just playing games for fun and trying to now fuck all the cautious people too!

    As you said, Silver is epic!

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  7. Wow what a ride... I remember telling my friends, who I have gotten to buy some PHYZ that you need balls of steel to invest in this game, so if you don't have them, move along. MAN have those things been tested, but I still have every ounce, and will buy 100 ounces more ASAP.... Your right SGS... we need to learn to not panic, panic causes people to be react in unintelligent ways... BLYTH wants this.. she feeds on this.. lets all man the fuck up and keep our PHYZ... and FYI I just got a BJ from the prom queen... and that's not fucking lie :OP

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  8. After more reflextion, agreed about housing, other than people getting mullered on margin calls, but thats their own fault and the risk they took.

    I do not think $30 gets breached, unless dollar keeps going up and gold/oil also keeps falling!

    Lets hope we do not have 2008 again. I doubt it as we all know Ben will just do QE/TARP 7000

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  9. Harvey Organ had an interesting Question as to where twenty three and a half Million silver ounces have went in the last two days.. And reading through other blogs today, no one can figure out where the bankers money landed after driving all the prices down ! It didn't seem to go into anything.. Are they lining their pockets with Silver ! After they wipe out their shorts and go Long the Physical !

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  10. how come nobody answers the slv $26,000,000 ounce question??????????????????

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  11. SGS, in another post you were looking for companies that went up a shitload and were ripe for a fall. Are you expecting a temporary deflationary death spiral (or the illusion thereof)?

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  12. People are still paying $45-50/oz on ebay. So the spot is definitely decoupling from real price apparently.

    How bad are the dealers getting raped by this? They must be losing their asses on inventory they bought over the course of the last week.

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  13. "Good luck and always wear protection."

    No protection. Riding bare-back.

    When it's moving up, nothing else in the world matters.

    When it's moving down HARD... MMMM. Hurts SO GOOD....

    ......

    .......

    ....... sorry. What were we talking about?

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  14. This comment has been removed by the author.

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  15. All I read about the bankers and CME is desperation. So let's the fuckers out of action. June and July is coming. I think market will have huge correction in July because quarterly reports will show drop in sales and profits because of the supply chain disruption in Japan to the world. Factories full of products waiting for Japanese components not being sold. Then they will forecast a worse next quarter. Stocks (paper) will dive hold on to your phyz. Watch Michael Ruppert on this.

    http://lonerangersilver.wordpress.com/2011/04/14/michael-ruppert-we-have-until-july-at-the-latest-before-economic-collapse-begins/

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  16. May 5th, Single 2011 Silver eagles no reserve auctions on eBay -

    58.29
    43.25
    55.50
    54.48
    45.55
    38.00
    49.95
    50.49

    Average - $49.44. Price, for the moment, is certainly decoupled from spot.

    re: http://completed.shop.ebay.com/i.html?_nkw=2011+Silver+eagle+-rare+-ANACS+-PCGS+-NGC+-First&_sacat=253&LH_Auction=1&_dmpt=Coins_US_Individual&LH_Complete=1&_odkw=2011+Silver+eagle+-rare&_osacat=253&_trksid=p3286.c0.m270.l1313

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  17. Not sure eBay is a reliable indicator. However, Kitco has nothing available for the US (i.e., in their US vault) other than 100 oz and 1000 oz bars, and junk silver. With all the "selling", I'd think they'd have overflow to the local U-Stor-It-Yoself.

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  18. Wtf just happend to US Dollar Index?
    Just showed 84 but disappeared!?
    http://img832.imageshack.us/img832/9466/dollar84wtf.png
    (Hope the link works.)


    Otherwise,
    http://www.fxstreet.com/rates-charts/usdollar-index/
    If it the 84 still is there..



    Am I just paranoid or is something about to fuck-truck?

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  19. Hey SGS,

    Instead of trading the paper etf (SLV) would you recommend holding CEF?

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  20. silver maple leafs are $1.50 cheaper then American silver eagles per oz atm. you guys think its better to buy maple leafs ? or are they both the same ?

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  21. .84?
    http://finviz.com/futures_charts.ashx?p=m5

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  22. buy maples
    a good oz is a good oz
    and both are great....

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  23. @ kozz66

    thanks for the help :)

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  24. People buy and sell real Silver at BullionVault and Goldmoney. The price follows the spot price. When I see the price at BullionVault completely out of sync with the "paper" price I will know that the end of Comex is nigh.

    Until then everything else is just noise and propaganda

    Keep up the good fight SGS

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  25. @Andrew

    Buy SAE if you live in US, Maples if Canada.

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  26. thats good news, my man ... to me this link is even better ...

    http://www.prisonplanet.com/top-us-government-insider-bin-laden-died-in-2001-911-a-false-flag.html

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  27. Thanks SGS for you insight and wise words at these uncertain times!! Have been reading you blog since very early Jan (?) and have made sure to read every post. Great work. A truly valuable resource that I am privileged to discover.

    I aint going anywhere and neither is my silver.

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  28. I read on another blog that the reports of scrap silver helping supplies is fake. With all the media interest over silver lately, I would have thought we would have seen pictures of Joe Sixpacks standing in line to sell their 'scrap'.

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  29. Omg, so Ron Paul is running after all? :)
    http://www.ronpaul2012.com/

    I just bought som' Oil as well as more silver.

    All I can do now, is hope.

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  30. Alright, let me put it to you this way. If you don't have wrecking balls down there then sell your stash. Out now.

    @SGS spot price doesn't matter, does that sound familiar? I have several dealers, one of them is refusing orders under 500oz, the other has extended opening times to cope with volume. I bought at 39, 34 and will keep buying at any number, know why? Cause I don't give a f**k about legal tender any more!

    Got Balls?

    Silver, let's get wrecking ball physical!

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  31. Also, remember everyone, silver price fix is out in just over two hours. I wonder how those clueless clowns feel now that all our eyes are on them:

    http://www.lbma.org.uk/pages/index.cfm?page_id=46&title=current_statistics

    Spot means nothing

    Got Balls?

    Silver, let's get wrecking ball physical!

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  32. http://www.youtube.com/watch?v=qtL2MWTEBvA

    best sound byte ever; now this guy has real balls, steve piecenik

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  33. SI Support levels for today, imo...

    33.70 - 50% Fib retracement
    32.60
    31.65 - trend line support beginning Aug, 2010
    30.00 - 62% Fib retracement

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  34. walp,

    Ron Paul is 50/1 and so is The Donald, can bet it if you want haha

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  35. dont know much about quayle, but he offers the news we all like on silver

    http://www.youtube.com/watch?v=GeoMPzSWQQM&feature=player_embedded#at=45

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  36. All eyes on the LBMA

    Price fix out soon.

    http://www.lbma.org.uk/pages/index.cfm?page_id=46&title=current_statistics

    @SGS I'm really sorry for posting so much, but this announcement is going to be so critical. This is it, today we can show proof that there indeed are conspirators. Isn't it odd a few clowns get to fix the price of silver arbitrarily?

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  37. LBMA price fix $34.20

    This is a f**king joke! Note the correlation between a huge price drop and the announcement.

    Still no conspiracy?

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  38. First $33.70 target hit ...

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  39. Interactive Brokers Margin requirements for 1 SI contract:

    Intraday/overnight initial = $30,600
    Day/night maintenance = $15,300

    Up a couple grand from yesterday...

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  40. Adam & Eve bottom formation on SI 1 minute chart. Measured move of a breakout takes us to 34.50.

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  41. ALERT: July silver futures hit its 50% retracement at 33.71 (and a little lower). Start pricing options. I got some stupid bastard to fill mine!

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  42. Sorry. Forget to tell: buy Dec. options. SIZ11

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  43. Rich, I haven't seen you here before. I can't always get to these posts, but from your typing, seems like you & I am brothers from a different mother

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  44. Heck Ledbedder... I'm adopted so it might even be the same mother! LOL

    I've been posting more frequently over the past week or so. Been lurking for a few months. This has quickly become my fav read on the net.

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  45. Adam & eve formation didn't play out. Not surprised. Watching 32.58 with a .15 - .25 overshoot cushion.

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  46. COOL. See you again some time later.

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  47. Hey Rich, obviously you & I look at the technicals, but I have never heard of the "adam & eve" thing. Would you give an oh so brief explanation?

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  48. Adam & Eve formation is a bottom formation, (inverted is the top formation). It is just like a up & handle except the cup portion is shaped more like a "V" than a "U". Otherwise they are pretty much the same in every other way.

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  49. "It is just like a Cup & handle..."

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  50. MORE GLIMMER OF HOPE. Us metal bulls have been de-nutted, sat down in our own shat and been kicked in the head this week. B-U-T, going into the weekend, I want to try to bring hope. Since 1975, gold (futures) has only had O-N-E (1) YEARLY high in May since 1975. My point? Some time between now and 12/31/11, gold will surpass 1577.4 so the history tells us (or is on our side). Have a nice weekend folks. Just remember the fundamentals have NOT changed in 5 days!! Thanks SGS.

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  51. Woops, we just hit some kind of nice floor I think..buy buy buy!

    Buy oil as well, and sell post 11\05 2011 when it skyrockets on disastrous 'events' of Biblical proportions.

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  52. Dollar spiked at the same time. Hit the 74.60 level I've been watching for resistance. See how it plays out.

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  53. Jobs report came out weak. Bring on QE3!

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  54. GENTLEMEN...START YOUR ENGINES

    With several gold and silver bugs who called the top, now coming back into silver, looks like we found our bottom. A 32% correction in 4 days is about as good as it gets.

    The Registered Catagory at the COMEX is now down 63% from its 2008 figures

    2008 = 86 million ounces
    2011 = 32 million ounces


    We are in CONDITION RED for the COMEX. Furthermore, thru a graph put out by Stacy Herbert at MaxKeiser.com, there was a big 25% correction in 1979, before silver hit $50.

    Looks like the Rain Clouds have past and its a new day for silver

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  55. at 9:25 am EDT (5/6/11), they tipped their hands. They are scared shitless. BUY OPTIONS ON ANYTHING SILVER!! And/or buy physical!!

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  56. Picture a guy with wrecking ball nuts screaming this at the top of his lungs:

    SPOT DOESN'T MEAN SHIT

    Got balls?

    Silver, let's get wrecking ball physical!

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  57. 2pac4ya..yes. December futures has a wonderful gap @ 48.612. Look at anything between 50 and 65. Made 1680% in 1 month and 1 day with options. It CAN be done.

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  58. GRANTED, that ain't the norm!

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  59. take out McDonalds jobs and its probably in the negative.

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  60. Pedal to the metal on Monday I think, if it isn't too late. BUY BUY BUY... ! XD

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  61. hey someone has to feed the poverty stricken americans! might as well be the americans who once has resepectul well paying jobs... it is amazing McDonalds now has white, "educated", and well spoken americans behind the counters.

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  62. @Ledbed... I have no idea what you speak of! Very new to all this and probably shouldn't be trading options/futures... but since I have an account I may as well utilize it. What do I tell my broker?

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  63. 2pac4ya..PLEASE don't bring race into this blog. We're here (or at least I am)to support each other & hopefully make some money..actually, hopefully ALOT of money.

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  64. Ledbedder, Im pretty new to options, what is worst case scenario with an option? IOU's ?

    If you bet 1000$, you can win 16800$, but how much can you loose? 4000$ or just 1000$ ?

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  65. Ledbed... it was just an observation and sarcasim. i will save it for myself and friends... thanks for your help! sgs too!

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  66. Don't know about PFGbest. I am with optionsxpress.
    To tell your broker: start looking at December calls at $50 to $65. See if you can afford. if you can, have them buy it on a "limit" order for that price. Hope that helps.

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  67. walp86:options have alot of volitilty. BUT the nice thing is, if you buy an option for "X", that is the most you can lose. Like I said earlier, last month was a damn good month. Instinct, experience and LUCK got me that huge return.

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  68. I wanna thank you SGS, Because now I know that one day, my Tinkas, Hinters and Wildcats can finally pay for all of our big ball reductions we so desperately need. ;)

    "Silver" down 50%, and them real miners didn't give a shit!

    Donate!

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  69. nice LedBed! I'm still don't my due diligence before getting in but I appreciate the help

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  70. Thx Ledbedder.
    I´ve read on wikipedia that a short or put option requires some kind of safety, cause if it fails, it fails bigtime.

    But maybe you ment a call/long option?

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